Mixed-Use Corner Retail
W 202 W Michigan Avenue Unit SourceFi Marshall, MI 49068
For Sale
$424,900
Corner building with street-level retail space and two upstairs residential apartments.
Property Size4,560 SF
Price / SF$93.18
Days on Market22
Property Features for W 202 W Michigan Avenue Unit SourceFi
General Information
Standard status
Active
Size
4,560 SF
Property subtype
Business Opportunities
Building Details
Year Built
1900
Listing Agency:
Berkshire Hathaway HomeServices Michigan Real Estate
(269) 209-2286
Listed By:
Brian Fazekas · License #6506047758
(269) 209-2286
Source:
Xome
Added: Jul 8
Changed: Jul 19
Last Checked: Jul 29 at 4:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway HomeServices Michigan Real Estate
Investment Insights
Based on property information with market context.
This mixed-use corner building combines street-level commercial space with two income-producing residential apartments upstairs. The commercial portion is positioned at the building’s corner for street-level presence, while the upper level includes a spacious one-bedroom unit and a larger two-bedroom unit.
The property is located in the heart of historic Downtown Marshall, with visibility called out along Michigan Avenue and Eagle St. The public remarks indicate the building is within walking distance of local restaurants, boutiques, breweries, and year-round community events.
With commercial space at the street and residential units above, the building offers a straightforward live-and-lease configuration for an owner-operator or an investor looking for multiple income sources within a single asset.
The property is located in the heart of historic Downtown Marshall, with visibility called out along Michigan Avenue and Eagle St. The public remarks indicate the building is within walking distance of local restaurants, boutiques, breweries, and year-round community events.
With commercial space at the street and residential units above, the building offers a straightforward live-and-lease configuration for an owner-operator or an investor looking for multiple income sources within a single asset.
Key Highlights
- Mixed‑use corner building with street‑level retail space and two upstairs residential apartments
- Two residential units: one‑bedroom unit and large two‑bedroom unit
- Roof type: rubber
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.8k | $14.64 |
| − Vacancy | −$3.7k | −$0.82 |
| EGI | $63.0k | $13.82 |
| − OpEx | −$28.4k | −$6.22 |
| NOI | $34.7k | $7.60 |
4,560 SF · lease $14.64/SF/yr · vacancy 5.60% · expense 45.00%
Alternative Uses
Best Use
Retail
$676.2K
$591.7K – $789.0K
NOI $47,337 @ 7.0% cap · market cap 11.14%
Second Best
Multifamily LT 5
$569.9K
$498.7K – $664.9K
NOI $39,893 @ 7.0% cap · market cap 9.39%
Theoretical Best
Healthcare Medical
$54.09M
$47.33M – $63.11M
NOI $3,786,465 @ 7.0% cap · market cap 891.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Corner building with street-level retail space and two upstairs residential apartments.
Where is this retail space located?
The property is located at W 202 W Michigan Avenue Unit SourceFi Marshall, MI.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Mixed‑use corner building with street‑level retail space and two upstairs residential apartments; Two residential units: one‑bedroom unit and large two‑bedroom unit; Roof type: rubber
